GBP/JPY – 1H – SELL

The combination British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline down.

A continuation of the downward movement down to the next support level at will continue.

Caution: A possible trend reversal in the direction of the resistance level at 213.11500 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The currency pair is likely to fall.

And also a ‘Last Engulfing Bottom:’ chart pattern is detected. The chart forms ‘Last Engulfing Bottom:’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

213.11500 – 214.218 – 214.065 – 212.267 – 210.758 – 211.938 —
213.11500 – 212.96200 —
56.977378509174 – 49.385143546111 —
213.11500 – 1778158800 —
– 1778158800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Last Engulfing Bottom: – – – – – – – – –